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of their respective positions. It also should provide fair and equitable treatment to stakeholders in accordance with the benefits and contributions given by the
company.
2.3.4 Good Corporate Governance Mechanism
The organs of a company, consisting of the General Meeting of Shareholders, the Board of Commissioners, and the Board of Directors, have an
important role in implementing the GCG effectively. The organs of a company shall carry out their respective functions in accordance with an applicable
provision based on the principle that each organ is independent in carrying out its duty, function and responsibility in the sole interest of the company;
2.3.4.1 General Meeting of Shareholders
The General Meeting of Shareholders is a company’s organ that facilitates shareholders to make important decisions regarding their investment in a
company, by observing provisions in the articles of association and the rules and regulations. Decisions taken in the General Meeting of Shareholders must be
based on the long term interest of a company. The General Meeting of Shareholders and or shareholders cannot intervene in the exercise of the duty,
function and authority of the Board of Commissioners and the Board of Directors, without curtailing the authority of the General Meeting of Shareholders to carry
out its rights in accordance with the articles of association and laws and regulations, including the replacement or termination of the members of the Board
of Commissioners and or the Board of Directors.
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2.3.4.2 Board of Commissioners and Board of Directors
The management of a limited liability company in Indonesia is adopting a two board system, namely the Board of Commissioners and the Board of
Directors, each of which has a clear authority and responsibility based on their respective functions as mandated by the articles of association and laws and
regulations fiduciary responsibility. Yet, they both have the responsibility to maintain the company sustainability in the long term. Accordingly, the Board of
Commissioners and the Board of Directors must have the same perception
regarding the company’s vision, mission and values.
2.3.4.3 Board of Commissioners
The Board of Commissioners as an organ of the company shall function and be responsible collectively for overseeing and providing advices to the Board
of Directors and ensuring that the Company implements the GCG. However, the Board of Commissioners is prohibited from participating in making any
operational decision. Each of the members of the Board of Commissioners, including the Chairman, has equal position. The duty of the Chairman of the
Board of Commissioners as primus inter pares is to coordinate the activities of the Board of Commissioners.
2.3.4.4 Board of Directors
The Board of Directors as a company organ shall function and be responsible collegially for the management of the company. Each member of the
Board of Directors can carry out its duty and take decisions in accordance with
